Why 50% of U.S. Workers Are Retirement Have-Nots

7/23/2013 6:32PM

Half of American workers don't participate in savings plans for retirement at work often because the places where they work don't offer savings plans. MarketWatch's Thomas Bemis discusses what that means for future retirees. (Photo: AP)

This transcript has been automatically generated and may not be 100% accurate.

I ... the ... half of American workers don't dissipated statement or a big part of the reasons because the places where they were ... on offer savings plan ... and Tom Bemis MarketWatch forty two million workers in America or about a third of private sector employees work for companies that employ fewer than a hundred people ... of those companies only fourteen percent offered any plans to employees does help them say ... if you work for a company with one to foreign places and ninety five percent chance that you don't have a savings plan a failed ... government accountability office study released this month found so other reasons why companies don't offer ... what ... they include the costs of setting up the complexity of choosing option for employees ... and the added legal burden of offering retire ... but just because your company doesn't offer retirement plan doesn't mean you can't say ... experts say you can always set up an individual retirement account and save up to five thousand five hundred dollars the year and even if you can't say that much you should try to save as much can the true reason ... why ... you fill the savings habit in your financial state ... and to you take advantage of what Albert Einstein reportedly called the greatest power in the universe ... compound interest ...